Last night, Rachel Maddow from MSNBC did an exposé on President Trump’s tax return from 2005. During the election, Mitt Romney claimed that Trump was hiding a bombshell in his tax returns. Thanks to Rachel Maddow, a bombshell was found. Perhaps it wasn’t the bombshell we were all thinking it would be. As Rachel Maddow found out, the problem with political bombshells is that you could wind up blowing yourself up if you play with them.
Recently, I wrote an article about how much is really enough to have in our savings accounts. After thinking about it, I thought to myself, “How much should we have in our checking accounts?” After talking with some people about it, it’s become apparent to me that many people think it should be similar to the minimuim they keep for their savings account.
If you read my last article, you know that your minimum savings should be equal to all of your living expenses plus necessity expenses for each month that it usually takes you to find another job. This is a bit much to require yourself to have in your checking account as well. If you can do it, more power to you. For the rest of us, the idea revolves around purchasing power.